The Cabinet Committee on Economic Affairs (CCEA) has given the go-ahead for strategic disinvestment in Pawan Hans Limited.
The ‘in-principle’ approval for the strategic disinvestment is based on the recommendations of the Core Group of Secretaries on Disinvestment and the decision was taken by the CCEA on October 27.
Minister of state for civil aviation Jayant Sinha told the Lok Sabha that CCEA had approved the recommendation for disinvestment of 100%shareholding of the government to a strategic buyer identified through two-stage auction process.
Pawan Hans Ltd. is the national helicopter company of India. It was incorporated in 1985. The government holds a 51% stake in Pawan Hans while the rest 49% is held by Oil and Natural Gas Corporation.
Pawan Hans was incorporated with the primary objective of providing helicopter support services to the oil sector for its off-shore exploration operations, services in remote and hilly areas and charter services for promotion of tourism.
“Running an aviation company should be the job of professionals. This is a step in the right direction,” said aviation expert Rajji Rai.
Pawan Hans has grown into one of Asia’s largest helicopter company that maintains and operates by offering wide range of services to its clients through its fleet of 46 helicopters. John Johnson Authentic JerseyShare This